Aussie share market set for positive start

Written by admin on 30/07/2019 Categories: 苏州美睫

The Australian share market is expected to open higher after the Easter long weekend.


AMP chief economist Shane Oliver is tipping a positive start on Tuesday, with a number of US firms posting good first quarter earnings and a fall in US jobless claims last week.

But he says local investors will take their cues from US markets, which don’t get a public holiday on Monday.

“We should probably see a positive start tomorrow, depending on how Wall Street closes tonight,” Dr Oliver told AAP.

“I’d say about 10 to 15 points.”

The benchmark ASX200 index finished on Thursday 33.9 points, or 0.63 per cent, higher at 5,454.2, while the broader All Ordinaries index added 32.2 points, or 0.59 per cent, to close at 5,444.8.

Dr Oliver said the stalling of a crisis deal between Russia, Ukraine and Western powers could also create some uncertainty at home.

“It remains to be seen whether that will work yet and a lot of the Russian nationalists who have taken control of the buildings in the East are still there,” he said.

Dr Oliver expects local inflation figures for the March quarter, due out on Wednesday, will be slightly elevated.

PMI indicators for China, the US and Europe will be posted on the same day.

Local bond yields were stuck in a holding pattern, around 3.9 per cent, and there was a bit of a downtrend emerging in the Australian dollar, which finished at 93.57 US cents on Thursday, Dr Oliver said.

“We’ve probably seen the best of it, which is not so good if you’re going on an oversees holiday, but I think the economy needs it,” he said.

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